Beijing Haohua Energy Resource Co., Ltd, a state-owned coal production and supply enterprise, produced 4.08 million tonnes of coal in the second quarter of 2023, up 2.13% from the preceding year, the company announced on August 7.
During the same period, coal sales rose 4.48% on the year to 4.08 million tonnes, which worth 1.72 billion yuan, down 25.91% from a year ago. Gross profit on coal sales was 911 million yuan, down 39.91% year on year, it said.
During January-June, total coal output of Haohua Energy reached 8.51 million tonnes, increasing 25.45% YoY, and the company sold 8.49 million tonnes of coal, up 26.33% YoY.
Coal sales revenue amounted to 3.8 billion yuan in the first half year, 3.55% lower than the previous year, while gross profit was 2.14 billion yuan, declining 13.84% compared to 2022.
In addition, coal-dedicated railways shipped 1.30 million tonnes of coal in April-June and 3.10 million tonnes in the January to June period, down 30.60% and 14.59% from a year earlier, respectively.
The announcement noted that despite a significant growth in coal production and sales, the gross profit of coal business witnessed yearly declines due to decreased coal sales prices and higher production safety costs.
(Writing by Riley Liang Editing by Harry Huo)
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